Envision Healthcare Corporation (EVHC) Cut to "Sell" at BidaskClub

Bruno Cirelli
Agosto 5, 2017

Janus Capital Management LLC raised its stake in shares of Envision Healthcare Corporation by 63.7% in the first quarter. Accern also assigned media coverage about the company an impact score of 45.3720977114954 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock's share price in the near future. Municipal Employees Retirement System of MI boosted its position in Envision Healthcare Corporation by 90.2% in the second quarter. Janus Capital Management LLC now owns 2,712,066 shares of the company's stock valued at $167,536,000 after buying an additional 1,055,014 shares in the last quarter. Hexavest Inc. bought a new stake in shares of Envision Healthcare Corporation during the first quarter valued at $41,197,000. BB&T Corp increased its position in Envision Healthcare Corporation by 18.2% in the second quarter. Capstone Asset Management Co. now owns 11,147 shares of the company's stock valued at $684,000 after buying an additional 329 shares during the period. ING Groep NV now owns 6,022 shares of the company's stock worth $377,000 after buying an additional 21 shares in the last quarter. Finally, Morgan Stanley boosted its stake in Envision Healthcare Corporation by 7.5% in the first quarter. BlackRock Inc. now owns 7,197,631 shares of the company's stock valued at $441,359,000 after buying an additional 7,017,467 shares in the last quarter. Institutional investors own 64.75% of the company's stock.

Shares of Envision Healthcare Corporation (EVHC) traded up 1.77% during trading on Tuesday, hitting $55.79. The stock had a trading volume of 1,908,776 shares. The firm's 50-day moving average is $60.20 and its 200-day moving average is $61.95. The stock's market cap is $6.45 billion.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Envision's operating subsidiary, EmCare Holdings, Inc., routinely arranged for patients who sought treatment at in-network facilities to be treated by out-of-network physicians; (2) EmCare accordingly billed these patients at higher rates than if the patients had received treatment from in-network physicians; (3) Envision's statements attributing EmCare's Class Period growth to other factors were therefore false and/or misleading; (4) Envision's EmCare revenues were likely to be unsustainable after the foregoing conduct came to light; and (5) as a result, Envision's public statements were materially false and misleading at all relevant times. The company reported $0.69 EPS for the quarter, meeting the Zacks' consensus estimate of $0.69. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $2.52 billion. Envision Healthcare Corporation had a negative net margin of 9.16% and a positive return on equity of 5.75%. On average, equities analysts forecast that Envision Healthcare Corporation will post $1.40 earnings per share for the current fiscal year.

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A number of research firms have weighed in on EVHC. Cantor Fitzgerald reissued a "buy" rating and set a $80.00 price objective on shares of Envision Healthcare Corporation in a research note on Thursday, April 6th. Royal Bank Of Canada lifted their price target on Envision Healthcare Corporation from $72.00 to $77.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 27th. Finally, Mizuho decreased their price target on Envision Healthcare Corporation from $70.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of "Buy" and a consensus target price of $71.89. Korea Investment CORP purchased a new stake in Envision Healthcare Corporation during the first quarter worth $141,000. The shares were sold at an average price of $60.00, for a total value of $90,000.00. Following the completion of the transaction, the insider now directly owns 97,863 shares in the company, valued at $6,135,031.47. Insiders own 3.10% of the company's stock.

Envision Healthcare Holdings, Inc, formerly CDRT Holding Corporation, is a holding company.

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